Dublin is officially the 34th most expensive city in the world but the good news is that it’s getting cheaper to live in Ireland’s capital city (well, if a new cost of living survey is to be believed).

The World Cost of Living (WCOL) survey revealed that Dublin has fallen four places in the past year and that it actually offers better value for money than London, Paris and Madrid.

However, with that being said, it’s still cheaper to live in cities like Rome, Berlin, Manchester, Amsterdam, Prague and Athens. Hmm... maybe it’s time we started booking ourselves some plane tickets, huh?

Anyway, the data, which was complied by the Economist magazine, found that Tokyo and Osaka in Japan are the most expensive cities to set up home. These were closely followed by Sydney, Oslo and Melbourne.

Living in Dublin could actually save you money (well, in comparison to other cities)

In stark comparison, places like Karachi in Pakistan, Mumbai and New Delhi in India, Kathmandu in Nepal and Algiers in Algeria are the cheapest  places in the world when it comes to the cost of living. In Europe, Bucharest was the least expensive city to live in.

The experts who put together the data for the survey said that fears over the euro currency made many EU cities cheaper to live in.

“The costf living in Europe has seen relative declines thanks to economic austerity and currency fear,” said Jon Copestake, one of the compilers of the report.

“But Asian cities have also been rising on the back of wage growth and economic optimism. This means that over half of the 20 most expensive cities now hail from Asia and Austlasia,” he added.

Do you really think that Dublin is getting cheaper to live in?

The Top Five Most Expensive Cities:

1. Tokyo, Japan.
2. Osaka, Japan.
3. Sydney, Australia.
4. Oslo, Norway.
5. Melbourne, Australia.

The Top Five Least Expensive Cities:

1. Karachi, Pakistan.
2. Mumbai, India.
3. New Delhi, India.
4. Kathmandu, Nepal.
5. Algiers, Algeria/Bucharest, Romania (joint position).